Articles Tagged with ''acquisitions in the HVAC Industry''

SPX Corp. announced an agreement for the sale of its Dry Cooling business to Paharpur Cooling Towers Limited. The purchase price is estimated to be approximately $48 million, subject to adjustments for working capital at closing.

Comfort Systems USA Inc., a leading provider of commercial, industrial, and institutional HVAC services, announced that it has entered into an agreement to acquire the remaining 40 percent noncontrolling interest in Environmental Air Systems (EAS), headquartered in Greensboro, North Carolina, effective Jan. 1, 2016.

Ingersoll-Rand plc announced it will sell its remaining equity interest in its Hussmann refrigeration business as part of a transaction in which Panasonic Corp. is acquiring 100 percent of Hussmann’s shares.

Installed Building Products Inc., a leading installer of insulation and complementary building products, has announced the acquisition of Sierra Insulation Contractors Inc. and Eco-Tect Insulation Inc.

Daikin Applied Americas announced it is acquiring a minority ownership stake in Riptide IO, a Santa Barbara, California-based software company that focuses on helping building owners connect, manage, and automate building equipment by bringing the benefit of the Internet of Things (IoT) to commercial buildings.

Antares Capital and American Capital arranged for $170 million in financing to support the acquisition of Kele Inc. by Snow Phipps Group LLC. Kele is a distributor of peripheral control products used in building automation systems. Snow Phipps is a private equity firm focused on middle-market control investments.

ENE Systems Inc., one of the largest independent controls contractors in New England, has purchased Pro Controls, a Bow, New Hampshire-based facilities and energy management control system contractor.

Duke Energy, one of the nation’s largest electric utilities, has acquired a majority share of Phoenix Energy Technologies (PhoenixET), a provider of energy management systems and services for commercial customers. The terms of the deal were not disclosed.

Distribution International Inc. (DI), a leading distributor and fabricator in the mechanical insulation market, announced it has acquired Selle Supply Co. and sister company PBI Supply Inc., full-line distributors of insulation products and related construction materials, specializing in the lamination of fiberglass insulation for metal buildings.